Cibc World Markets Corp Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Cibc World Markets Corp increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 159,204 shares of the business services provider's stock after acquiring an additional 19,831 shares during the quarter. Cibc World Markets Corp's holdings in Copart were worth $9,137,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CPRT. Principal Financial Group Inc. increased its position in Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the period. OneDigital Investment Advisors LLC raised its position in shares of Copart by 1.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 19,298 shares of the business services provider's stock valued at $1,011,000 after buying an additional 337 shares in the last quarter. Empowered Funds LLC raised its position in shares of Copart by 20.9% in the 3rd quarter. Empowered Funds LLC now owns 64,069 shares of the business services provider's stock valued at $3,357,000 after buying an additional 11,089 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Copart by 34.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 193,671 shares of the business services provider's stock valued at $10,149,000 after buying an additional 49,149 shares in the last quarter. Finally, MAI Capital Management raised its position in shares of Copart by 53.4% in the 3rd quarter. MAI Capital Management now owns 70,803 shares of the business services provider's stock valued at $3,710,000 after buying an additional 24,654 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Separately, Argus cut shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insider Buying and Selling

In other Copart news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold a total of 415,480 shares of company stock worth $23,407,983 in the last three months. 9.68% of the stock is owned by corporate insiders.

Copart Stock Down 0.4 %

Shares of NASDAQ:CPRT traded down $0.22 during midday trading on Friday, hitting $53.63. The stock had a trading volume of 5,952,411 shares, compared to its average volume of 4,017,068. The company's 50-day moving average price is $56.43 and its 200-day moving average price is $55.99. The company has a market capitalization of $51.81 billion, a P/E ratio of 35.99 and a beta of 1.30. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.